$ Canada remains within 99.25 to 1.0850 consolidation and thereforewhile 99.25 holds it maintains the concept of a reverse head and shoulders pattern for an eventual reversal through 1.0850. Indeed having completed a three wave and thereofre corrective decline to 99.75 the rally to 1.0370 should represent the first leg of a new recovery. The deep retest of 99.75 should therefore hold for a rally back through 1.0155 now to confirm a recovery at least 1.0515. The deep retest though does increase risk that 1.0850 will cap for an eventual loss of the 99.25 low for at least 97.00.